
Due to the continuous increase in the prices of petrol and diesel, the government is under great pressure to cut their prices. To get relief from their increased prices, there is a demand to bring them under the purview of GST. Recently, the Prime Minister and then the Chief Economic Advisor Krishnamurthy Subramaniam also advised to bring it under the purview of GST. Before this, Petroleum Minister Dharmendra Pradhan has also suggested this. However, Finance Minister Nirmala Sitharaman has described it as religious. Now SBI economist Soumikanti Ghosh has said that after being brought under the ambit of GST, the price of petrol and diesel can come to Rs. 68.
Petrol and diesel fall in GST, 0.4% loss to GDP
Saumyakanti Ghosh has said in his assessment that petrol and diesel and the state governments will only incur a revenue loss of one lakh crore rupees which will be 0.4 percent of GDP. This assessment has been done based on the price of crude oil in the international market at $ 60 per barrel and a dollar-rupee exchange rate of 73 rupees per dollar. Both the central and state governments impose their tax on petrol and diesel. States apply VAT on petrol and diesel as per their requirement. The center imposes excise duty. With this, the center's cess is put on it. In some parts of the country, the price of petrol has reached 100 rupees a liter.
Saudi Arabia turned down India's request
Meanwhile, OPEC has ignored India's plea to lift applicable controls on crude oil production. At the same time, there has been an increase in the price of crude oil in the international market. Saudi Arabia has told India that it can use the crude oil it bought at the time when the price of crude oil went down significantly last year. Brent crude oil, which is the most used crude oil, rose nearly one percent to $ 67.44 a barrel on Friday.
Petroleum Minister Dharmendra Pradhan appealed to OPEC countries to reduce the restrictions imposed on production to bring stability in the price of crude oil. He believed that due to the rising crude oil prices in the international market, both the improvement in the economic sector and the demand are having a bad effect.
The Supreme Court has asked the Upper Yamuna River Board to call an emergency meeting with all st
The 15th season of the Indian Premier League (IPL) is to start on March 26. The first match is to
The Central Government has made a big announcement to give relief to the farmers. After the cabin
CBSE Syllabus Controversy: Congress leader Rahul Gandhi has targeted the Sangh Parivar over the d
Why won't it matter to India if Pakistan doesn't come to play World Cup, said former player
Pakistan Cricket Board Chief Rameez Raja recently said that if India does not come to Pakistan to
Russia has fired a missile at a shopping mall in the Ukrainian city of Kremenchuk. So far 16 peop
The outbreak of heat waves continues in a large part of the country. On the other hand, monsoon r
Continuous revelations on the origin of Corona have put China in the dock. China has already chan
Former India vice-captain Ajinkya Rahane received heartfelt tributes from cricket legends Virat K
Union Minister Kiren Rijiju has made a scathing attack on Congress leader Rahul Gandhi. He said t